PreCash - Blog and Tools

04-11-2013

Discover's Beth Horowitz Talks Innovation with PYMNTS.com

Mentions PreCash's Use of Virtual Prepaid Cards for Bill Payments

PYMNTS.com recently spoke with Beth Horowitz of Discover about their prepaid offerings. During the interview, Horowitz says that PreCash is behind one of the, "most exciting trends."

Beth is referring to our innovative use of virtual cards as a better way to process consumer bill payments. Virtual card payments are a core technology behind our mobile, online and walk-in bill pay initiatives.

Listen to the PYMNTS.com interview here, or read the transcript here.

If you're impatient, the discussion about PreCash starts at the 8:15 mark on the audio link.

04-09-2013

Better Bill Payments

The Virtues of Virtual Cards

Can we accelerate bill payments and reduce costs? Blair Jeffery, PreCash senior vice president, sales and business development shares his ideas for making this possible in this month's in Digital Transactions magazine. Check it out here.

02-25-2013

Welcome Jim Lerdal, Our New Senior Vice President Operations

Jim Lerdal recently joined PreCash as senior vice president of operations. Jim brings more than 24 years of financial services and operations experience to the PreCash executive team.

"Jim has extensive experience in the payments and financial services industry, much of that time spent in a leadership role helping companies improve operations, implement best practices and improve customer satisfaction," said Steve Taylor, CEO, PreCash. "As we continue expanding our retail and virtual payments presence, he will do an excellent job to ensure we maintain our tradition of operational excellence with an intense focus on serving our customers."

Read the full press release here.

12-04-2012

Underbanked US Consumers Have a Right to
Mobile Money Too

PreCash CEO Steve Taylor recently shared his thoughts on the mobile payments opportunity among the underbanked. See his blog post featured in Mobile World Live here.

10-02-2012

PreCash at FinovateFall 2012 Video

Watch us demo Flip!

Here is a video of our presentation on Flip, our new mobile financial services app.

09-12-2012

PreCash Introduces the First Practical Mobile Wallet for Underbanked Consumers

Today at FinovateFall 2012, PreCash announced and demonstrated FlipMoney, the first viable mobile wallet app for underbanked consumers. With Flip, for the first time, people without a bank account or credit card can do instant remote check deposits and perform free expedited bill payments with their smartphone. Flip makes mobile payments faster, affordable and accessible to more people.

"Historically, people with the least amount of money and free time pay more and have fewer convenient options to do simple things like pay bills or cash checks," said Steve Taylor, PreCash CEO. "Until now, the current cadre of mobile payments and financial services apps largely ignore the needs of people without bank accounts and credit cards. Flip changes all of that by combining instant remote check deposit and free expedited bill payments in a single mobile wallet that works with a prepaid card."

Download the Flip fact sheet here.

Check out the full press release here.

09-05-2012

Treasury Strategies Finds Billers' Overall Cost to Accept Card Payments Less Than Other Payment Types

Billers face the constant challenge of balancing cost, risk and consumer satisfaction when offering bill payment options. Treasury Strategies' new whitepaper, Optimizing the Collection Portfolio, implies that converting more consumer bill payments from paper and Automated Clearing House-based (ACH) transactions to card transactions can be a viable strategy to keep cost and risk under control, especially with payments from the underbanked.

The whitepaper is based on a survey of large billers and states that when payment exceptions – like errors and returns – are factored into the total cost, ACH and other bill payment types are more expensive to process than card payments.

Download a copy of the whitepaper here.

Read the press release here.

08/30/2012

PreCash Expands Its Bill Payment Functionality To Include 10,000 Billers

Single Source Payment Platform Makes it Easier For Service Providers To Meet The Financial Needs of Underbanked Consumers

PreCash, a leading payments and transaction processing company, today announced that it has expanded its bill payment service, making it possible for consumers to make a payment to more than 10,000 providers. Coupled with its existing billers, prepaid wireless payments, prepaid energy, international mobile top-up and prepaid long distance services, PreCash offers retailers, money service businesses (MSBs) and other companies the most complete suite of payments services available in one place.

"Underbanked consumers, or people without bank accounts and credit cards, go to MSBs, grocers, convenience stores and other retailers to pay bills, buy calling cards, or to add minutes to mobile phones," said Steve Taylor, CEO, PreCash. "With the addition of 10,000 billers, our partners can simplify their point of sale by offering all of these services through a single-source payment platform."

For retailers, all of PreCash's payments are available through an easy-to-use, cloud-based interface. The clerk takes a customer's cash payment, collects a convenience fee and the transaction is processed electronically. The full suite of payments can also be made available through self-service kiosks, as well as mobile and online applications.

For retailers, all of PreCash's payments are available through an easy-to-use, cloud-based interface. The clerk takes a customer's cash payment, collects a convenience fee and the transaction is processed electronically. The full suite of payments can also be made available through self-service kiosks, as well as mobile and online applications.

"Our partners can now offer faster, lower-cost payments for virtually any bill a consumer wants to pay," adds Taylor. "This will keep their consumers coming back, help them attract new customers and provide additional revenue generating opportunities. For PreCash, having an additional 10,000 billers makes our services more attractive to convenience stores, grocers and other retail businesses."

Read the press release here.

08/15/2012

It's Here! WebConnect's New Look

10,000 Providers and New Easy-to-Use Design

The new WebConnect with 10,000 providers is ready. We are rolling out the new design in phases. Some of you are seeing the new design today, while others will see it in the coming weeks. All users will have the new version by the end of September.

PreCash now offers retailers the most complete walk-in payments solution with faster, low-cost payments for consumers. WebConnect also has a fresh user experience with new features that make finding provideres and completing payments a breeze.

10,000 providers:

• Bill payments – Consumers walk in and can pay thousands of bills with cash. Utility, wireless, cable, internet, auto loans, and many more.
• Prepaid wireless – All the most popular prepaid wireless options including electronic PINs and real-time refills.
• International top-up – Consumers can top up their friend's or family's phones in Bolivia, Columbia, El Salvador, Guatemala, Honduras and more.
• Prepaid long distance – Offer your consumers prepaid calling PINs or PIN-less programs for calling 300+ countries around the world.
• Other services – Offer consumers a variety of other services in your store, including prepaid energy payments, gaming credits and more.

Easy to Use

The new easy-to-use design is clean, simple, and intuitive. It makes navigation and payment processing easy.

1. Favorites – Add your five most used providers right on the home page for quick access.
2. Recent Choices – Quickly access your most recently used providers with one click right from the home page.
3. Search – The intuitive search makes it easy to find any provider with just a few key strokes.
4. Browse by Category – Browse our entire catalogue of providers.

Log in to WebConnect for details.

7/19/2012

Intuitive New Interface Coming Soon!

10,000 Providers and a Fresh New Look

We're updating WebConnect, our retail interface. We'll soon offer 10,000 providers and a clean and easy to use design. We'll have the largest suite of bill payments and prepaid services available in a single place.

More than 10,000 providers:

• Prepaid
• Postpaid
• International Top-Up
• Prepaid Long Distance

Stay tuned for more details.

7/11/2012

Vision Financial Systems Integrates PreCash Walk-In Bill Payments

We are integrating into the Vision Financial Cloud for retailers and money service businesses (MSBs).

The Vision Financial Cloud offers MSBs, check cashers, grocery stores, convenience stores and other retailers access to money orders, vendor drafts, and now walk-in bill payments. Now with the addition of our payments suite, Vision Financial merchants will be able to offer consumers cash payments for utility and other bills, prepaid wireless, prepaid long distance, international top-up, prepaid energy and more.

6/19/2012

Yay, We Got an A+!

We just renewed our accreditation by the Better Business Bureau (BBB), and received an A+ rating.

"PreCash offers consumers better ways to pay bills and manage their money, and great customer service is part of what we do," said Blair Jeffery, senior vice president, product and business development, PreCash. "Our customers' perception is the only true measure of success. We work hard to earn their trust every day and our Better Business Bureau Accreditation exemplifies our efforts."

Check out the press release here.

6/01/2012

Tigo Top-Up and Prison Commissary Deposits

PreCash recently added Tigo international mobile top-up, Commissary Deposit and Jail ATM payments. These are all now available as part of our payments suite.

With Tigo international mobile top-up, consumers can top up their friends' and families' phones in Bolivia, Columbia, El Salvador, Guatemala, Honduras or other Tigo countries with the universal option.

Commissary Deposit and Jail ATM payments allow your customers to send money to friends and family in correctional facilities all across the country.

4/19/2012

PreCash Offering Prepaid Energy Payments

PreCash is pleased to announce it is becoming one of the first walk-in payments networks to offer prepaid energy. PreCash merchants can now accept cash payments for multiple leading prepaid utilities.

Prepaid energy is an exciting new concept that is similar to prepaid wireless plans. It allows cash-paying, credit-challenged or budget-conscious consumers to come into your store to prepay for service. PreCash will add more prepaid energy options as more programs develop.

• Direct Energy Power to Go
• CPL PrePaid Electricity
• PowerHouse Prepaid Energy
• Selma FlexPay Electric
• Prepay Energy
• And more

How it Works

Consumers first register with a utility provider that offers a participating program. Once registered, the consumer takes their account number to your store and pays with cash. The consumer can top up their account at any time. Prepaying for utilities allows consumers to pay at the last minute and avoid late fees.

2/20/2012

PreCash Now Offers International Prepaid Long Distance

We just added prepaid long distance to our payments suite. Businesses using PreCash for walk-in payments can now sell prepaid calling products from MobileNet, STI, and Llamex. It allows consumers to walk into your store and pay cash for calls to Africa, Asia, the Caribbean, the Middle East, Mexico, Central America and more.